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Will Pound Sterling go up against the Euro? (Tom Holian)
Pound Sterling exchange rates had an interesting day on Friday as Eurozone inflation showed better than expected growth.
This caused the Euro to strengthen against the Pound but the positive movement for single currency was short lived and Sterling ended the week on a high.
As we enter next week it appears to be Wednesday that is likely to have the biggest effect on Sterling Euro exchange rates with the release of Eurozone retail sales.
The previous data release was 2.4% so anything else could cause volatility for rates.
On Monday the US releases manufacturing data and this will have a a future impact on the Fed’s decision as and when they may raise interest rates.
Indeed, last week although the Fed kept rates on hold if the data in the US continues to be positive this could mean a September rate rise which could result in Dollar strength.
Typically when we see Dollar strength this often results in Euro weakness so I think we could see even better opportunities to buy Euros with Sterling during next week.
If you have a currency transfer to make and want to save money on exchange rates compared to using your own bank then contact me directly for a free quote. Tom Holian [email protected]
Source: http://www.poundsterlingforecast.com/2015/08/01/will-pound-sterling-go-up-against-the-euro-tom-holian/
